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Shake Shack swings to loss in fiscal Q2


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Shake Shack swings to loss in fiscal Q2

Shake Shack Inc. said its normalized net income for the fiscal second quarter ended July 1 amounted to a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

The per-share result swung to a loss from the prior-year profit of 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $177,000, compared with income of $1.3 million in the second quarter ended June 25, 2014.

The normalized profit margin dropped to negative 0.4% from 4.7% in the year-earlier period.

Total revenue rose 74.7% year over year to $48.5 million from $27.7 million, and total operating expenses climbed 65.0% year over year to $42.2 million from $25.6 million.

Reported net income fell 41.0% year over year to $1.1 million, or 8 cents per share, from $1.8 million, or 6 cents per share.